Gas Arabian Services lands $203m Aramco EPC contracts
RIYADH, 22 days ago
Gas Arabian Services Company (GAS), a key provider of project management services for the energy sector, has secured two contracts worth SAR761.2 million ($203 million) from Saudi oil giant Aramco to provide engineering, procurement and construction (EPC) services for its Master Gas System Expansion projects in the kingdom.
The first EPC contract is for the Master Gas System Expansion project from Shedgum to EWPS-1 valued at SAR345 million, while the second one worth SAR416.3 million is for Master Gas System Expansion in East & Qassim clusters, stated GAS in its filing to the Saudi bourse Tadawul.
Gas Arabian Services Company had in February announced the receipt of two (non-binding) letters of intent from Aramco for providing EPC services for the Master Gas System Expansion projects.
On the Shedgum to EWPS-1 project, GAS said it will be completed within 40 months. The financial impact of the project will likely appear in the year 2024 to 2026.
On the East & Qassim clusters work, GAS said the EPC work for the Master Gas System Expansion will be completed within a 30-month period.-TradeArabia News Service
